Will Virgin Galactic Stock Reach $50 By 2022?

Will Virgin Galactic Stock Reach $50 By 2022?

Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We surveyed a group of over 600 investors on whether shares of Virgin Galactic (SPCE) will reach $50 by 2022.

What Is Virgin Galactic?

Virgin Galactic is a vertically integrated aerospace company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles.

Using its proprietary and reusable technologies Virgin is developing a spaceflight system designed to offer customers a unique, multi-day space travel experience.

Virgin envisions offering the general public a spaceflight that includes views of Earth from space and several minutes of weightlessness. Spaceflights will launch from Spaceport America, New Mexico.

Virgin Galactic Stock Forecast

The spaceflight company finished 2020 at $23.70 per share and trade just above $25 at time of publication.

About 61% of Benzinga traders believe Virgin Galactic will reach $50 per share by 2022.

Sentiment from many respondents cited both a distinct lack of competition in the space tourism industry, Virgin being a first mover in providing publicly available space travel experiences and the company’s leadership in jet propulsion tech as the reasons why Virgin Galactic will reach $50 over the next year.

Respondents had marked confidence Sir Richard Branson, the co-founder of Virgin Galactic, is a master of marketing who will re-imagine the space travel business in a similar manner to his current ventures in airline travel with Virgin Atlantic, cruise line travel in Virgin Voyages and other consumer discretionary brands under the Virgin umbrella.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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